Page:United States Statutes at Large Volume 122.djvu/2766

 12 2 STA T . 2 743PUBLIC LA W 11 0– 2 89—J UL Y 30, 2008 ‘ ‘ (i)al l owedbyth e r e c ei v er ‘‘(ii) a p proved by the Ag e n cyp u r s uant to a f inal deter m ination pursuant to paragraph ( 7 )or( 8 ); or ‘‘(iii) determined by the final j udgment of any court of competent jurisdiction . ‘‘( B )A GRE E M E NTSA GA I NST T H E INTEREST OF THE AGEN CY . —N o agreement that tends to diminish or defeat the interest of the Agency in any asset ac q uired by the Agency as receiver under this section shall be valid against the Agency unless such agreement is in writing and e x ecuted by an authori z ed officer or representative of the regulated entity. ‘‘( C ) P AYMENT OF D I V IDENDS ON C L AIMS.— T he receiver may , in the sole discretion of the receiver, pay from the assets of the regulated entity dividends on proved claims at any time, and no liability shall attach to the Agency by reason of any such payment, for failure to pay dividends to a claimant whose claim is not proved at the time of any such payment. ‘‘( D ) RU LEMA K ING AUTHORITY OF THE DIRECTOR.—The Director may prescribe such rules, including definitions of terms, as the Director deems appropriate to establish a single uniform interest rate for, or to ma k e payments of post - insolvency interest to creditors holding proven claims against the receivership estates of the regulated entity, following satisfaction by the receiver of the principal amount of all creditor claims. ‘‘( 10 ) S US P ENSION OF LEGAL ACTIONS.— ‘‘(A) I N GENERAL.—After the appointment of a conser- vator or receiver for a regulated entity, the conservator or receiver may, in any judicial action or proceeding to which such regulated entity is or becomes a party, request a stay for a period not to exceed— ‘‘(i) 45 days, in the case of any conservator; and ‘‘(ii) 9 0 days, in the case of any receiver. ‘‘(B) G RANT OF STAY B Y ALL COURTS RE Q UIRED.— U pon receipt of a request by the conservator or receiver under subparagraph (A) for a stay of any judicial action or pro- ceeding in any court with jurisdiction of such action or proceeding, the court shall grant such stay as to all parties. ‘‘(11) ADDITIONAL RIGHTS AND DUTIES.— ‘‘(A) PRIOR FINAL AD J UDICATION.—The Agency shall abide by any final unappealable judgment of any court of competent jurisdiction which was rendered before the appointment of the Agency as conservator or receiver. ‘‘(B) RIGHTS AND REMEDIES OF CONSERVATOR OR RECEIVER.—In the event of any appealable judgment, the Agency as conservator or receiver— ‘‘(i) shall have all of the rights and remedies avail- able to the regulated entity (before the appointment of such conservator or receiver) and the Agency, including removal to F ederal court and all appellate rights; and ‘‘(ii) shall not be required to post any bond in order to pursue such remedies. ‘‘(C) NO ATTACHMENT OR E X ECUTION.—No attachment or execution may issue by any court upon assets in the

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